Reuters | Aug 06, 2020 09:30
(Corrects percentage moves and prices in last bullet)
Aug 6 (Reuters) - Gold prices held steady near record highs
on Thursday as a weaker U.S. dollar and hopes of more stimulus
measures to mitigate the economic fallout from the pandemic
underpinned the metal's safe-haven appeal.
* Spot gold XAU= was steady at $2,039.75 per ounce by 0042
GMT, after hitting an all-time high of $2,055.10 on Wednesday.
* U.S. gold futures GCv1 rose 0.3% to $2,055.90.
* The dollar index .DXY fell 0.2% to hold close to a more
than two-year low against its rivals, making gold less expensive
for holders of other currencies. USD/
* The U.S. government bond yield curve steepened on
Wednesday as prices fell on the prospect of increased supply in
longer-dated debt. US/
* More than 18.66 million people have been reported to be
infected by the novel coronavirus globally, while death toll
surpassed 700,000 on Wednesday, with the United States, Brazil,
India and Mexico leading the rise in fatalities. * The rapid rise in cases has dented hopes of a swift
economic rebound, driving inflows into safe-haven assets such as
gold, which has risen more than 34% so far this year.
* U.S. private payrolls growth slowed sharply in July,
pointing to a loss of momentum in the labor market and overall
economic recovery as new COVID-19 infections spread across the
country. * Top congressional Democrats and White House officials
appeared to harden their stances on new coronavirus relief
legislation, as negotiations headed toward an end-of-week
deadline with no sign of an agreement. * SPDR Gold Trust GLD , the world's largest gold-backed
exchange-traded fund, said its holdings rose 0.8% to 1,267.96
tonnes on Wednesday. GOL/ETF
* Silver XAG= fell 0.4% to $26.91 per ounce, while
platinum XPT= rose 0.4% to $970.67 and palladium XPD= was
steady at $2,181.77.
0600 UK BOE Bank Rate July
1230 US Initial Jobless Claims Weekly
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors.
More content, faster quotes and charts, and a smoother experience is available only on the App.